VERBUND AG: VERBUND raises earnings forecast for 2021

The management of VERBUND AG is today announcing an increase in its earnings forecast for financial year 2021. In a significantly improved energy environment, based on the assumption of average own generation from hydropower and wind power for the remainder of the year, as well as the present opportunity and risk situation for financial year 2021, VERBUND expects reported EBITDA (equivalent to the EBITDA after adjustment of non-recurring effects) of between around €1,490m and €1,590m (previous forecast: around €1,310m to €1,410m) and a reported Group result of between around €740m and €810m (previous forecast: around €590m to €660m). VERBUND's planned payout ratio for financial year 2021 is between 45% and 55% of the Group result of between around €720m and €790m, after adjustment for non-recurring effects (previous forecast: around €580m to €650m).

The increase in the earnings forecast is mainly attributable to above-average hydro conditions in quarter 3/2021, higher average sales prices as well as higher contributions to earnings from flexibility products.

Further details will be announced when the results for quarters 1-3/2021 are published on 4 November 2021.

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